Market Index

Demand, supply, prices & deal numbers all increased in August, says the Royal Institute of Chartered Surveyors.

As you'd expect, London's prime property market was quiet in that last week of the Summer Holidays.

'The new government has inherited a very large ‘to-do’ list with urgent interventions required in several policy areas,' comments Propertymark after checking sales and lettings market activity in July.

Mortgage lending has hit the highest level since November 2022.

Knight Frank's latest Prime Global Cities Index came in at +2.6% in Q2 - down from +4.1% in Q1, and under half the five-year average annual growth rate.

Fresh LonRes data show a continued high level of price reduction activity in London's prime postcodes.

But Zoopla is warning sellers against ambitious pricing, with over-priced homes take more than twice as long to sell.

Buying activity has slowed, but a relatively high number of prime London property listings are being repriced this Summer...

'Even the luxury sector is subject to affordability constraints', says Knight Frank as it heralds 'an end to the substantial upward repricing' of rental markets in key global cities.

Housing market activity is running well ahead of last year, prompting the property portal to anticipate a 1% increase in average asking prices through 2024.

OnTheMarket's new index reveals that homes listed for sale in Prime Central London are taking twice as long, on average, to secure a buyer as in Plymouth or Newcastle.

Official data suggests property values have increased by an average of 2.7% in the last year - but transaction volumes are dramatically lower than in previous years.